The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-06-11
The STATE OF TRADE.
Il. g. DUN & CO.'S WEEKLY RE
VIEW OF BUSINESS
In all lis Branches Labor Contests
and Excessive Speculation
Great Drawbacks,

New York, June 10.-R, G. Dun &
Co.'s weekly review OF trade says
But for labor contests and exec ,sive
speculation the outlook would DO en-.
tirely satisfactory. Crop prospects
and the financial situation have both
improved during the past week. Bat
the effect OF an important strike IL felt
more seriously every week. How
great the disturbance OF trade and
production which may result from q
single strike 10 forcibly illustrated by
the returns Of iron furnaces, the Iron
Age making the weekly output June
LIST about 1886 tons, or q per cent.
less than May LIST, while Pittsburg
statistics forwarded by our CORE.
spondent make the decrease 30,650
tons. Either statement represents a
remarkable decline in the output,
ranging from 5000 900 to S75OOOG
in value Of weekly production, aud
to this must be added the de-
crease in many important branches
OF manufacture which depend
for material upon furnaces now
idle. Ia spite OF the great decline in
production, prices Of iron have been
weaker during the past week, heavy
sales Of Southern iron having been
made in Eastern markets. The stove
businefs revives, the lockout of mold
era having terminated, but the rail
market Is demoralised by over pro-
ductioB. The demand for bar iron is
better, but prices ale depressed by
Western competition, and the offering
Cf foreign rails at low figures checks
the demand near g. q ports.
Wheat speculation seems weaker,
though prices after rising to nearly ST.
for No. 2 red, have not quite declined
to last weeks level. Crop reports
f,om all directions ara favorable and
the accumulation OF 2800 cars about
Chicago. still loaded because wheat
room is scarce In elevators, gives point
to the observation that q great GUAM.
tity Of wheat seems still to be left in
farmers' hands. Bat exports this
month bid fair to fall below those of
last June. In that case the surplus to
be carried over July LIST will probably
exceed 100000 bushels in sddit on
to the minimum always held.
Chicago exchange on New York,
still 40 10 80 discount, shows that
speculators are preventing the natural
movement OF money eastward at this
season.
Money is reported in good supply at
all points, and CO lections everywhere
good or fair, with improvements in
some localities. Southern reports
show natural dullness in trade, but
confidence in an early and prosp srous
fall business. From North western
points great activity is everywhere
reported, with especisl mention Of
the stimulating influence Of rapid rail.
way building,
The stock market has shown weak.
ness, but not the appearance OF geuer.
al liquidation, and reported gains in
railroad earnings, averaging over 10
per cent. for May thus far, sustain the
confidence OF holders. A fell in for
eign exchange, Notwithstanding the
decline in merchandise exports, iRdi-
Gates continued inve,tm in iorei On
capital in this country. The business
failures during the past seven DAYS
number: For the United States, 40 ;
for Canada, 80; total, l75. against $50
last week and 209 for the correspond
ing week Of last year. In the Eastern
and Middle States the failures are ex.
csptionally light. In the other Sec
tions about the average number are
reported, but in Canada there is con.
siderable increase, arising mostly in
the maritime provinces.